RIVERFRONT RESIDENCES NEWS

Oxley powers through fifth new launch this year with Riverfront Residences.Buyers flock to show-flats before new rules kick in.Buyers snap up over 1,000 units at three projects in one night .Over 7,000 visited Riverfront Residences showflat.

Riverfront Residences Condo a 99-years leasehold new development that was formerly a privatized HUDC estate Rio Casa. The development under went a successful enbloc by joint venture company Oxley-Lian Beng Venture. The partners for the development are KSH Development, Oxley Holdings, Lian Beng Group and Apricot Capital.

Riverfront Residences Condo is located at Hougang Ave 7 in District 19. It is around Hougang MRT station. In the vicinity there are many supermarkets, shops, clinics, shopping and dining facilities such as Giant (Hougang Plaza), NTUC FairPrice (Hougang Lifestyle Mall), The Midtown, Hougang Plaza, Hougang Mall, Kang Kar Mall, etc, it also have location attributes that is around Hougang MRT Station and Hougang Bus Interchange.

Hougang is being completely built as a New Town, which means that the area’s masterplan includes several important features.

NEWS

Half of Riverfront Residences units sold

A large crowd of buyers gathered at the Riverfront Residences showflat on July 5, after property cooling measures were announced that day. Some 52 per cent of its 1,472 units have been sold.ST PHOTO: NG SOR LUAN

Riverfront Residence has achieved "average selling prices that are within expectations", KSH said in its announcement yesterday. It was the top-selling project in Singapore last month, fuelled by panic buying due to the cooling measures, with 628 units moved at a median price of $1,307 per sq ft.

"We are also pleased that the project has so far resonated well with the market as the consortium continues to monitor the market carefully to push sales appropriately at the right prices."

Riverfront Residences has achieved "average selling prices that are within expectations", KSH said in its announcement yesterday.

It was the top-selling project in Singapore last month, fuelled by panic buying due to the cooling measures, with 628 units moved at a median price of $1,307 per sq ft.

"We are also pleased that the project has so far resonated well with the market as the consortium continues to monitor the market carefully to push sales appropriately at the right prices."

Riverfront Residences has achieved "average selling prices that are within expectations", KSH said in its announcement yesterday.

It was the top-selling project in Singapore last month, fuelled by panic buying due to the cooling measures, with 628 units moved at a median price of $1,307 per sq ft.

Riverfront Residences sells over 50 percent of units within a month

Riverfront Residences, which was launched in July 2018, has so far sold over 52% of its units within a month, achieving average selling prices that are within expectations.

Barely one hour after the Government announced the new property cooling measures on July 6, home buyers thronged several developers’ hastily launched property sales – chief among them was Riverfront Residences.

Buyers snap up over 1,000 units at three projects in one night

More than 1,000 units were sold at three projects in just a few hours on Thursday night in a remarkable buying frenzy triggered by the imminent imposition of tough new cooling measures.

More than 1,000 units were sold at three projects in just a few hours on Thursday night in a remarkable buying frenzy triggered by the imminent imposition of tough new cooling measures.

Buyers rushed to condominium showflats in a desperate bid to sign up for a new home and avoid what - for some - would be significantly higher acquisition costs.

Developers had brought forward the three launches to allow buyers to lock in deals before changes to the Additional Buyer's Stamp Duty and Loan-to-Value Limits, which were announced at about 7pm on Thursday, clicked in at midnight.

The sales rush created huge queues, led to packed carparks, ran agents off their feet - and inevitably left some potential buyers high and dry after they were unable to complete the process in time.

By midnight, about 510 units at the 1,472-unit Riverfront Residences in Hougang were sold at an average $1,200 per sq ft (psf) - a level said to be just marginally above its break-even price.

The project sits on the former Rio Casa HUDC site, which was acquired in May last year by a consortium led by Oxley Holdings for $706 psf per plot ratio.

Oxley powers through fifth new launch this year with Riverfront Residences

Singapore-listed property developer Oxley Holdings will preview its newest project, Riverfront Residences, over the weekend of June 23 and 24. The 99-year leasehold development on Hougang Avenue 7is Oxley’s fifth new launch this year.

Riverfront Residences will have a total of 1,472 units, comprising nine 17-storey blocks of apartments, 21 strata landed houses and six strata shops. The project is the Oxley-led consortium’s largest this year in terms of number of units.

Riverfront Residences’ location, however, is in the vicinity of the HDB estates in Hougang, Upper Serangoon View, Punggol and Sengkang. Low therefore expects most of the buyers to be HDB upgraders. There has been no new launch of a private condominium in the area since the 1,165-unit Kingsford Waterbay on Upper Serangoon View more than three years ago.

Ex-HUDC estate Rio Casa sold en bloc

Brisk new-home sales and the recovering sentiment in the residential property market have fuelled demand for sites among developers.

Rio Casa in Hougang Avenue 7 was sold for $575 million to the joint venture firm Oxley-Lian Beng Venture comprising KSH Development, Oxley Holdings, Lian Beng Group and Apricot Capital.

"We received a handful of submissions for Rio Casa; it was hotly contested," said Mr Ian Loh, head of investment and capital markets at Knight Frank, the project's marketing agent. The intention is to apply for the grant of a fresh 99-year lease for the property and to redevelop it, the consortium said in a separate stock exchange filing yesterday.

It would have to fork out a further $208 million in estimated differential premiums for topping up the lease and to develop the site to a gross plot ratio of 2.8. Knight Frank noted that the combined sale price and differential payment translates to a land price of about $706 per sq ft per plot ratio based on the maximum permissible gross floor area of about 1.1 million sq ft.

Rio Casa comprises seven blocks of 286 apartment and maisonette units. Each owner stands to pocket about $2 million from the deal.

Rio Casa sold for S$575m in en bloc deal

SINGAPORE: Former HUDC estate Rio Casa has been sold for S$575 million to a joint venture company Oxley-Lian Beng Venture, announced marketing agent Knight Frank on Thursday (May 25).

To develop the site, the buyers intend to apply to top up the lease to a fresh 99 years, at an additional estimated differential premium of S$208 million that's payable to the state, subject to the authorities' approval.

The river-fronting estate along Hougang Avenue 7 was put up for collective sale in April, after more than 80 per cent of the owners agreed to the en bloc sale.

Each owner stands to receive a gross sale price of about S$2 million upon the successful completion of the sale, which is subject to several conditions being met, including an order of sale by the Strata Titles Board or Court Approval, said Knight Frank.

The estate, with a site area of 36,811.1 square metres, comprises seven residential blocks of 286 apartment and maisonette units. Under the Master Plan 2014, the site is zoned for residential use.

Condo rents rise 1% in Feb, HDB rents up 0.5%: SRX Property

SINGAPORE - Private non-landed home rents rose by 1 per cent in February 2018 from a month ago, higher than the 0.5 per cent rise in January, flash estimates from SRX Property on Wednesday (March 14) showed.

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FLOOR PLAN

There are more Riverfront Residences floor plan we would like to share with you! The architects have designed the Riverfront Residences Floor Plan very carefully, ensuring that the residents can be as comfortable as possible.

RIVERFRONT RESIDENCES

Riverfront Residences is located in the heart of Hougang within close vicinity to Hougang MRT, Hougang Bus Interchange, Hougang Mall.Showflat GalleryView Showflat

Riverfront Residences Singapore | Hougang Ave 7. No part of this website may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission of the author Propnex Dave Lim. While reasonable care has been taken in providing the information and specifications herein, the information contained herein do not form part of an offer or contract and is subjected to change without prior notice. All plans are subject to amendments as directed and/or approved by the building authorities. The Sales & Purchase Agreement shall form the entire agreement between the purchase and the developer and shall supersede all statements, representations or promises made prior to the signing of the Sales & Purchase Agreement and shall no way be modified by any statements, representations or promises made by the developer L3008022J R055072A. All prices are subject to change without prior notice. All art renderings and pictures herein are artist's impressions only and all areas stated herein are subject to final survey, and final inspection by relevant authorities to comply with the current code of practice. The estimated TOP Date for Riverfront Residences is 2022.

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